BCE reports Q4 adjusted EPS 76c, consensus 54c

Reports Q4 revenue $6.47B, consensus $4.79B. “The Bell team has demonstrated strong executional discipline and cost containment this quarter, enabling Bell to deliver solid results in Q4 and throughout 2023,” said Mirko Bibic, President and CEO of BCE and Bell Canada. “We had a solid quarter to cap 2023 with 5.3% higher adjusted EBITDA that drove a 1.9-point increase in margin to 39.7%. Residential Internet revenue was up 5.4%, total consumer wireless revenue up 5.5%, and digital media revenues up 27% over last year, reflecting continued focused execution on our key priorities and cost discipline on the part of the Bell team,” said Curtis Millen, CFO of BCE and Bell Canada. “BCE is in a good position, having achieved our financial targets for 2023 while having weathered increasing macroeconomic headwinds and an unsupportive public policy environment this past year. Looking ahead, we are increasing BCE’s common share dividend by 3.1% for 2024. This will be a transformational year for Bell as we balance growth with financial performance, continue to adapt in the face of external pressures, and focus on revenue-generation on our transformation journey to a tech services and digital media leader.”